LAST CALL for voting MTGOX rehabilitation plan: deadline on October 8th 2021

jack0m

legendary

Activity: 3808

Merit: 2044

Quote from: OgNasty on October 06, 2021, 12:47:40 PM

I voted a few months ago. It seems like we’ll probably get back about 20% of our BTC just in time to miss the bull market. I think April of 2022 is probably the best case scenario for a return of funds, but a year after that is more likely. I know personally I’ll be glad to have this lawsuit wrapped up so I don’t have any outstanding legal entanglements.

Well, before thinking about the timing of a return of funds, the main goal is hitting the 50% yes threshold of the total amount of claims. Otherwise, we can forget about 20% of our BTC and will fall back to $485/BTC.

The deadline is today, so it's now or never: VOTE YES!

EDIT: the deadline is Tokyo time, so it's some 20 minutes away right now!

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

I voted a few months ago. It seems like we’ll probably get back about 20% of our BTC just in time to miss the bull market. I think April of 2022 is probably the best case scenario for a return of funds, but a year after that is more likely. I know personally I’ll be glad to have this lawsuit wrapped up so I don’t have any outstanding legal entanglements.

jack0m

legendary

Activity: 3808

Merit: 2044

Quote from: Altcoinsintel on October 06, 2021, 10:10:20 AM

Questions:

How many BTC are left at the hands of the Trustee?
Will the trustee begin dumping again as in 2018 if the draft fails?

Why would the bankruptcy procedure drop the value of the coins to $485? This sounds irrational.
The BTC assets have appreciated since then, it is not so difficult to adjust the asset price in USD or Yen terms.

As of March 24, 2021 (date of 6th creditors meeting) the reported amount of BTC held by the Rehabilitation Debtor is 141,686.36882176 BTC, while the amount of BCH is 142,846.36249044.
The trustee may possibly sell some of those coins, if creditors ask for repayment in cash (rather than in cryptos) for an overall amount which exceeds available fiat assets.

Regarding those $485 per bitcoin, that's the rate that was fixed as the bankruptcy proceeding started, back in 2014. The rehabilitation plan is a later attempt by creditors to reach an agreement on a more fair distribution scheme, which takes into account the appreciation of BTC you correctly mentioned.
The point is, should the rehabilitation plan fail to get the majority of votes, then the bankruptcy proceeding would resume exactly as stated in the beginning, including that (now) ridiculously low BTC/USD rate.

In short: if you want to get a decent amount of your claim back, then please vote YES!

Altcoinsintel

member

Activity: 342

Merit: 24

Questions:

How many BTC are left at the hands of the Trustee?
Will the trustee begin dumping again as in 2018 if the draft fails?

Why would the bankruptcy procedure drop the value of the coins to $485? This sounds irrational.
The BTC assets have appreciated since then, it is not so difficult to adjust the asset price in USD or Yen terms.

jack0m

legendary

Activity: 3808

Merit: 2044

Please PLEASE vote for the rehabilitation plan, since not voting is counted as voting NO:

https://claims.mtgox.com/faq

Quote

Please note that, if you do not vote, you will be deemed to have voted against the draft rehabilitation plan for the requirement of the amount of the voting rights. Accordingly, please vote on the draft rehabilitation plan.

Please also bear in mind that in case the rehabilitation plan is rejected, it will fall back to the bankruptcy procedure, with your coins valued some $485/BTC. If you are a BTC claim holder then voting yes will mean you get ~20x as much.

Then again, please vote YES, if you haven't done it yet!

Thank you.

Topic: LAST CALL for voting MTGOX rehabilitation plan: deadline on October 8th 2021 (Read 156 times)